Question
A company's inventory records indicate the following data for the month of July: Date Activities Units Acquired at Cost Units Sold at Retail July 1
A company's inventory records indicate the following data for the month of July:
| Date | Activities | Units Acquired at Cost | Units Sold at Retail |
| July 1 | Beginning inventory | 100 units @ $15 = $1,500 |
|
| July 5 | Purchase | 50 units @ $18 = $900 |
|
| July 10 | Sale |
| 75 units @ $50 |
| July 20 | Purchase | 225 units @ $20 = $4,500 |
|
| July 25 | Sale |
| 200 units @$50 |
If the company uses the weighted average inventory valuation method and the perpetual inventory system, what would be the cost of its ending inventory?
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Using Accounting & Financial InformationAnalyzing, Forecasting, And Decision Making
Authors: Mark S. Bettner
2nd Edition
1947098683, 9781947098688
